Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - ORACLE CORP | d920453d8k.htm |
| EX-5.1 - EX-5.1 - ORACLE CORP | d920453dex51.htm |
| EX-4.13 - EX-4.13 - ORACLE CORP | d920453dex413.htm |
Exhibit 12.1
ORACLE CORPORATION
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
| Nine Months Ended February 28, | ||||||||
| (Dollars in millions) |
2015 | 2014 | ||||||
| Earnings(1) |
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| Income before provision for income taxes |
$ | 9,137 | $ | 9,116 | ||||
| Add: Noncontrolling interests |
100 | 75 | ||||||
| Add: Fixed charges |
850 | 711 | ||||||
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| Total earnings |
$ | 10,087 | $ | 9,902 | ||||
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| Fixed Charges(2) |
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| Interest expense |
$ | 817 | $ | 674 | ||||
| Estimate of interest in rent expense |
33 | 37 | ||||||
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| Total fixed charges |
$ | 850 | $ | 711 | ||||
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| Ratio of earnings to fixed charges |
12x | 14x | ||||||
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| (1) | The term “earnings” means the amounts resulting from the following: (a) our income before provision for income taxes, plus (b) the noncontrolling interests in the net income of our majority owned subsidiaries, plus (c) our fixed charges. |
| (2) | The term “fixed charges” means the amounts resulting from the following: (a) our interest expensed, plus (b) our estimate of the interest component of rent expense. |
We do not report any shares of preferred stock outstanding in our consolidated financial statements because our outstanding preferred stock is owned by one or more of our wholly-owned subsidiaries. Our ratio of earnings to combined fixed charges and preferred dividends for any given period is equivalent to our ratio of earnings to fixed charges.